Frequently Asked Questions

My taxes in Salt Lake City ended up being a little more than I was expecting. Even though I saved, I had to make a few payments late. Now I’m overwhelmed with the penalties. Is there a way to erase my tax penalties?

It’s one thing to owe a significant amount in taxes. It’s another thing to have to pay the extraordinary fees and penalties the IRS and UTC charge for late payments. Many times, the tax penalties in Salt Lake City are so high that you end up draining your savings account just to cover them.

Some Salt Lake City taxpayers send in the amount of money that they owed in hopes that their penalties will disappear. This does not often work, and might cost you more down the road.

Penalty Abatement Might Be an Option

One of the tax alternatives available to Salt Lake City residents is penalty abatement. This involves requesting to have your penalties dropped by the IRS. It takes longer than paying back all of your taxes and penalties, but it is often a better option.

It is tempting to just pay back the penalties on credit just to get your tax situation over and done with as soon as possible, but this could leave your family in a bad position. With a penalty abatement, you could save yourself a significant amount of money. You might also limit the impact on your credit rating because you will not be overwhelmed with high interest rates and credit card fees that could delay your payment to the bank.

A Bountiful Tax Attorney Can Help You Make the Right Decision For Your Case

IRS agents’ job is to get as much money out of you as they can. Asking for forgiveness on a few late payments usually does not go over very well. Without hesitation, they will slam on fees to your already high tax burden. You deserve someone on your side who can help you avoid those fees, avoid racking up large credit card debt, and help you keep your money in your pocket.

Help! I own a small business, and haven’t been able to save enough for my payroll taxes. Now the IRS is coming after me saying I stole from the government. Do I need a small business tax attorney to help me with this?

Your situation is the same for many small business owners. Times are tough, and to keep your shop up and running you need to dip into savings once in awhile. Although you always had good intentions and just wanted to help your business grow, the IRS is not likely to be sympathetic to your needs.

Small business owners like you have enough to deal with. Your mind is filled with day-to-day operations, and big picture growth strategies. The last thing you need to occupy your mind with is tax debt.

Unfortunately, without the IRS on your side, you face tremendous difficulty coming up with the funds to pay your payroll tax debt. The IRS takes payroll debt very seriously. They view it as theft because you are the one responsible for withholding the taxes from those you employ. Not withholding this money, or withholding it and not paying it to the government could mean steep penalties for you.

This is a very serious situation for you, your family, and your business. Even if you go out of business, you will still be personally responsible to pay back the tax debt.

Talking to a small business tax lawyer in Salt Lake City is the first step toward overcoming this burden. Lawyers are well-educated in tax law, and experienced working with the IRS to bring down your tax burden. When you work with a tax lawyer, he will analyze your finances, the accusations made by the IRS, and more. Then, he will come up with a solution to help you negotiate a better arrangement with the IRS so that you can keep your doors open.

You shouldn’t fight this on your own! Doing so could cost you more than you should have to pay. Use the form on this page to schedule your appointment with small business tax lawyer Jordan Wilcox today and learn how he can get you back to being debt free.